Business, 04.09.2021 14:00, niniaalvarez

QUESTION 2 When IFRS 15/AASB 15 Revenue from Contracts with Customers was released, the accounting firm BDO issued a short document entitled IFRS Industry Issues: Construction & Real Estate. In the document they stated:
The adoption of IFRS 15 may lead to significant changes in the pattern of revenue and profit recognition. Careful consideration and planning will be needed for a range of issues, including the effect on:
 Compliance with bank covenants; and
 Performance based compensations
Required:
Explain the possible reasoning behind the advice above.

Answers: 2

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QUESTION 2 When IFRS 15/AASB 15 Revenue from Contracts with Customers was released, the accounting...